ERELCOM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ERELCOM
Largest movements
- Tangible fixed assets -€23,414
down €23,414 (-10.9%), from €214,250 to €190,836
of which Land and buildings: -€18,070
- Receivables within one year +€12,385
up €12,385 (+8.0%), from €154,086 to €166,471
of which Trade receivables: +€14,671
- Profit (loss) carried forward -€28,810
down €28,810 (-8.4%), from -€344,770 to -€373,581
- Other debts +€17,237
up €17,237 (+10.5%), from €164,842 to €182,079
- Trade debts -€8,939
down €8,939 (-78.9%), from €11,332 to €2,392
- Advances received +€7,105
new in 2026: €7,105
- Gross operating margin +€10,272
up €10,272, from -€2,375 to €7,897
- Depreciation +€1,762
up €1,762 (+5.6%), from €31,711 to €33,473
- Financial income -€970
down €970 (-10.4%), from €9,305 to €8,335
- Financial charges -€132
down €132 (-1.4%), from €9,487 to €9,355
From the 2025 result to the 2026 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €368,346 | €357,312 | -€11,034 | -3.0% |
| Fixed assets | 21/28 | €214,250 | €190,836 | -€23,414 | -10.9% |
| Tangible fixed assets | 22/27 | €214,250 | €190,836 | -€23,414 | -10.9% |
| Land and buildings | 22 | €181,071 | €163,001 | -€18,070 | -10.0% |
| Plant, machinery and equipment | 23 | €2,652 | €1,594 | -€1,058 | -39.9% |
| Furniture and vehicles | 24 | €30,527 | €26,241 | -€4,286 | -14.0% |
| Current assets | 29/58 | €154,096 | €166,476 | +€12,380 | +8.0% |
| Amounts receivable within one year | 40/41 | €154,086 | €166,471 | +€12,385 | +8.0% |
| Trade receivables | 40 | - | €14,671 | +€14,671 | |
| Other amounts receivable | 41 | €154,086 | €151,800 | -€2,286 | -1.5% |
| Cash at bank and in hand | 54/58 | €9 | €4 | -€5 | -54.1% |
| Total equity and liabilities | 10/49 | €368,346 | €357,312 | -€11,034 | -3.0% |
| Equity | 10/15 | -€208,224 | -€237,034 | -€28,810 | -13.8% |
| Contributions | 10/11 | €133,448 | €133,448 | = | 0.0% |
| Capital | 10 | €132,623 | €132,623 | = | 0.0% |
| Issued capital | 100 | €132,623 | €132,623 | = | 0.0% |
| Contributions outside capital | 11 | €825 | €825 | = | 0.0% |
| Share premium | 1100/10 | €825 | €825 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€344,770 | -€373,581 | -€28,810 | -8.4% |
| Amounts payable | 17/49 | €576,570 | €594,346 | +€17,777 | +3.1% |
| Amounts payable after more than one year | 17 | €380,122 | €377,798 | -€2,324 | -0.6% |
| Financial debts | 170/4 | €380,122 | €377,798 | -€2,324 | -0.6% |
| Amounts payable within one year | 42/48 | €196,448 | €216,548 | +€20,100 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €20,274 | €22,528 | +€2,254 | +11.1% |
| Trade debts | 44 | €11,332 | €2,392 | -€8,939 | -78.9% |
| Suppliers | 440/4 | €11,332 | €2,392 | -€8,939 | -78.9% |
| Advances received on contracts in progress | 46 | - | €7,105 | +€7,105 | |
| Taxes, remuneration and social security | 45 | - | €2,444 | +€2,444 | |
| Taxes | 450/3 | - | €2,444 | +€2,444 | |
| Other amounts payable | 47/48 | €164,842 | €182,079 | +€17,237 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,711 | €33,473 | +€1,762 | +5.6% |
| Other operating charges | 640/8 | €2,149 | €2,215 | +€66 | +3.1% |
| Gross operating margin | 9900 | -€2,375 | €7,897 | +€10,272 | |
| Operating profit (loss) | 9901 | -€36,235 | -€27,791 | +€8,444 | +23.3% |
| Financial income | 75/76B | €9,305 | €8,335 | -€970 | -10.4% |
| Recurring financial income | 75 | €9,305 | €8,335 | -€970 | -10.4% |
| Financial charges | 65/66B | €9,487 | €9,355 | -€132 | -1.4% |
| Recurring financial charges | 65 | €9,487 | €9,355 | -€132 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€36,416 | -€28,810 | +€7,606 | +20.9% |
| Profit (loss) for the period | 9904 | -€36,416 | -€28,810 | +€7,606 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,416 | -€28,810 | +€7,606 | +20.9% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.